This is an important question from the Book- ML Aggarwal

Board- ICSE

Publication- Avichal

Chapter- Banking

Chapter number-2

This question has been asked in 2012 questions paper.

Kiran deposited Rs. 200 per month for 36 months in a bank’s recurring deposit account. If the banks pays interest at the rate of 11% per annum, find the amount she gets on maturity ?

Question no.4 , ML Aggarwal, exercise 2, chapter 2, ICSE board, class10, banking.

Solution:Amount deposited month (P) = Rs. 200

Period (n) = 36 months,

Rate (R) = 11% p.a.

Now amount deposited in 36 months = Rs. 200 x 36 = Rs 7200